Meat substitute also called as meat analogue is a meatless food that has similar appearance, taste, and texture as food made from meat, fish, and poultry. It is majorly made from non-meat ingredients and sometimes without using dairy products. The meat substitutes serve to vegetarian population, as they do not prefer meat consumption due to health, animals or environmental concern. Various health benefits associated with meat substitute such as aid in weight loss, preservation of bones, and maintaining normal blood sugar are some of the factors fueling growth of the meat substitute market.

Meat substitutes such as plant-based meat substitutes are not suitable for everyone and especially to gluten intolerant or sensitive individuals. Such allergy may lead to increased intestinal permeability and gut inflammation, which is major factor hindering the meat substitute market growth.

Figure 1. Global Meat Substitute Market Share (%), By Source, 2017

Source: Coherent Market Insights, 2017-18

The global meat substitute market was valued at US$ 3.9 billion in 2016, and is expected to expand at a CAGR of 7.6% in terms of revenue, during 2018– 2025. Meat substitutes are healthy, cholesterol free, low cost, and have meat-like texture, color, and taste along with long shelf life, which is driving growth of the global meat substitutes market.

Among source, the soy-based segment is expected to account for a significant revenue share during the forecast period, owing to increasing consumption of soybean due to its nutritional contents, as it is a source of calcium and linoleic acid. For instance, according to the U.S. International Trade Administration (ITA), in Mexico, the total soybean domestic consumption was 4,446 thousands of metric tons in 2015, and reached up to 4,700 thousands of metric tons in 2016.

Figure 2. Global Meat Substitute Market Share (%), By Region, 2017

Source: Coherent Market Insights, 2017-18

Europe accounted for the largest revenue share of 33% in the global meat substitute market in 2017, and is expected to maintain its dominance over the forecast period. This is attributed to increasing awareness about health benefits of the meat substitutes. Meat substitutes such as tempeh which is a high source of calcium, vitamins, minerals and antioxidants that help to lower cholesterol levels thus people prefer meat substitutes.

North America is expected to account for fastest growing market share in the global meat substitute market, in terms of revenue over the forecast period. This is attributed to increasing consumer preference for meat substitutes and decreasing consumption of meat, owing to rising concern regarding animal welfare among consumers. According to the United States Department of Agriculture, in 2014, the aggregate poultry, red meat, fish, edible basis fell to 181 pounds per person since 1983. Furthermore, market players are focused on new product launches for gaining the demand for meat substitutes in the region. For instance, in July 2018, Beyond Meat launched new types of plant-based meat burgers that are similar to meat-based burgers in taste, appearance, and smell. Such R&D activities by key players is boosting growth of the market.

Key players are focusing on adopting various organic and inorganic growth strategies such as mergers and acquisitions, joint ventures and partnerships, and product or technological innovations to retain position in the global meat substitute market. For instance, in February 2017, Quorn Foods and Shakey’s Pizza Restaurant, partnered to introduce meat free pizza made from mycoprotein.

Meat substitutes are also called as meat analog, mock meat, and faux meat, which has chemical characteristics such as high-moisture extrusion and qualities such as texture, flavor of specific type of meat. Changing consumer preferences towards consumption of healthy diet is driving growth of the meat substitute market.

However, negative effects of the meat substitutes such vomiting, nausea, and diarrhea are hampering the market growth. Furthermore, according to European federation of food science and technology annual conference, water and energy are not used efficiently during the production of meat analogues this is leading to restraining the growth of meat substitute market.

Market Dynamics

Increasing consumer preference for meat substitutes due to benefits offered by meat substitutes such as low cost, low calorie intake and meat-like texture, color, and taste along with long shelf life are the factors driving growth of the global meat substitutes market.

North America is also expected to exhibit positive growth in the meat substitute market over the forecast period. Key factors such as bulk availability of raw materials, increasing population, and high consumption of non-meat products are creating immense opportunities for growth of the market.

Asia pacific held significant market share in the global meat substitute market owing to rising consumer awareness about health benefits of the meat substitutes in the region. Meat substitutes offer health benefits such as it lowers the cholesterol level, boosts heart health, and stronger bones.

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global meat substitute market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics

The global meat substitute market report caters to various stakeholders in this industry including investors, suppliers, meat substitute manufacturers, distributors, new entrants, and financial analysts. Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global meat substitute market

Detailed Segmentation:

Global Meat Substitute Market, By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

Global Meat Substitute Market, By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

Global Meat Substitute Market, By Category:

Frozen

Refrigerated

Shelf-stable

Global Meat Substitute Market, By Distribution Channel:

Online Stores

Offline Stores

Global Meat Substitute Market, By Geography:

North America

U.S.

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Canada

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Europe

U.K.

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Germany

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

France

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Italy

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Spain

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Russia

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Rest of Europe

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Asia Pacific

China

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

India

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Japan

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Australia

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

South Korea

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Rest of Asia Pacific

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Latin America

Brazil

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Argentina

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Mexico

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Rest of Latin America

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Middle East

GCC

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Israel

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Rest of Middle East

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Africa

Northern Africa

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Central Africa

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

South Africa

By Product Type:

Tofu

Quorn

Tempeh

Seitan

Textured Vegetable Protein

Mushrooms

Others

By Source:

Soy

Cereal

Oilseed

Mycoprotein

Others

By Category:

Frozen

Refrigerated

Shelf-stable

By Distribution Channel:

Online Stores

Offline Stores

Company Profiles

DowDuPont Inc.*

Company Overview

Product Portfolio

Financial Performance

Key Strategies

Recent Developments

Future Plans

Archer Daniels Midland Company

Amy’s Kitchen Inc.

MGP Ingredients, Inc.

Beyond Meat Inc.

Sonic Biochem Extractions Ltd.

VBites Foods Limited

The Nisshin OilliO Group, Ltd

Garden Protein International.

MorningStar Farms

Meatless BV

“*” marked represents similar segmentation in other categories in the respective section.

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